improving cash flow for churches: money and ministry

Money & Ministry3 Steps to Improving Cash Flow

Tim Samuel, CFO & Dave Michener, XP

Bridgeway Community Church Columbia, MD

www.bridgewayonline.org

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Money & Ministry3 Steps to Improving Cash Flow

Introduction—Who? What?

Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org

Money & Ministry:3 Steps to Improving Cash Flow

Introduction—Who? What?

Tim’s Professional Mission Statement:“To use numbers combined with business knowledge to change lives by the grace of God.”

Mich’s Professional Mission Statement: “To help others maximize their Kingdom potential in the context of Bridgeway Community Church.”

Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org

Money & Ministry3 Steps to Improving Cash Flow

You would think some things are obvious,

however…

Money & Ministry3 Steps to Improving Cash Flow

Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org

The Cash Flow EquationMoney @ beginning of point in time

+ Money collected - Money spent

__________________________________ = Cash Flow

Money & Ministry3 Steps to Improving Cash Flow

1. Evaluate current cash position & processes.

(1) Organize Data

(2) Acquire Knowledge

(3) Communicate Info

Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org

Money & Ministry3 Steps to Improving Cash Flow

2. Decide on what cash will (and therefore, will not ) be spent.

(1) Collect Info

(2) Prioritize Proposals

(3) Communicate Decisions

(4) Commission Leaders

Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org

Money & Ministry3 Steps to Improving Cash Flow

3. Create future opportunities (CFO). (1) Explore Options – Call vendors. – Buy in bulk. – Double check bills.

Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org

Money & Ministry3 Steps to Improving Cash Flow

3. Create future opportunities (CFO).(1) Explore Options

(2) Encourage Giving

– Provide Information: • Sharing • Sensitivity

– Provide Inspiration: • Stories• Say “Thank You”• Spirit-led Situations

Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org

Money & Ministry3 Steps to Improving Cash Flow

Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org

SPIRIT-LED SITUATIONS

Money & Ministry3 Steps to Improving Cash Flow

Conclusion—So what? Now what?

Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org

Money & Ministry3 Steps to Improving Cash Flow

Introduction—Who? What?

1. Evaluate current cash position & processes. (1) Organize Data

(2) Acquire Knowledge

(3) Communicate Info

2. Decide what cash will (and therefore, will not) be spent on. (1) Collect Info

(2) Prioritize Proposals

(3) Communicate Decisions

(4) Commission Leaders

3. Create future opportunities (CFO). (1) Explore Options (Call vendors. Buy in bulk. Double check bills.)

(2) Encourage Giving—

– Information: Sharing & Sensitivity.

– Inspiration: Stories. Say “Thank You”. Spirit-led Situations.

Conclusion—So what? Now what?

Tim Samuel, CFO @TimSamuelCFO Dave Michener, XP @DaveMichenerJr Bridgeway Community Church Columbia, MD www.bridgewayonline.org